Cwm LLC Has $1.09 Million Stock Holdings in Commerce Bancshares, Inc. $CBSH

Key Points

• Cwm LLC84.4% in Q4, selling 113,028 shares and leaving it with 20,866 shares valued at about $1.09 million; institutional investors collectively own 70.26% of the stock.
• Commerce Bancshares beat EPS estimates with $0.96 for the quarter and saw revenue rise 11.1% year-over-year to $475.7 million, and the company declared a quarterly dividend of $0.275 (annualized $1.10, ~2.2% yield) with an ex-dividend date of June 5.
• Analysts have a consensus rating of Hold on CBSH with a consensus target price of $59.16, and several firms recently trimmed their price targets.

Cwm LLC decreased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 84.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,866 shares of the financial services provider's stock after selling 113,028 shares during the period. Cwm LLC's holdings in Commerce Bancshares were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Commerce Bancshares by 5.0% during the fourth quarter. Farther Finance Advisors LLC now owns 6,824 shares of the financial services provider's stock worth $357,000 after buying an additional 326 shares during the last quarter. Warburton Capital Management LLC raised its holdings in Commerce Bancshares by 5.4% during the fourth quarter. Warburton Capital Management LLC now owns 5,204 shares of the financial services provider's stock worth $272,000 after buying an additional 266 shares during the last quarter. Diversify Advisory Services LLC raised its holdings in Commerce Bancshares by 26.3% during the fourth quarter. Diversify Advisory Services LLC now owns 20,308 shares of the financial services provider's stock worth $1,103,000 after buying an additional 4,229 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Commerce Bancshares by 4.8% during the fourth quarter. Apollon Wealth Management LLC now owns 15,566 shares of the financial services provider's stock worth $815,000 after buying an additional 717 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the fourth quarter worth $40,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $51.02 on Tuesday. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $63.19. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.64 and a beta of 0.60. The company has a fifty day moving average price of $50.28 and a 200-day moving average price of $51.73.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 4.08 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.2%. Commerce Bancshares's dividend payout ratio is presently 26.38%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CBSH shares. Wells Fargo & Company reduced their target price on shares of Commerce Bancshares from $60.00 to $53.00 and set an "equal weight" rating for the company in a research note on Monday, March 30th. Zacks Research upgraded shares of Commerce Bancshares from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. TD Cowen reiterated a "hold" rating and issued a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday. Morgan Stanley reduced their target price on shares of Commerce Bancshares from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Commerce Bancshares from a "strong sell" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of "Hold" and a consensus target price of $59.16.

Insider Activity at Commerce Bancshares

In related news, SVP David L. Roller sold 2,092 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $53.32, for a total transaction of $111,545.44. Following the completion of the transaction, the senior vice president owned 28,933 shares in the company, valued at approximately $1,542,707.56. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derrick Brooks sold 1,044 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total transaction of $56,793.60. Following the transaction, the senior vice president owned 14,585 shares of the company's stock, valued at approximately $793,424. The trade was a 6.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,477 shares of company stock valued at $1,586,655 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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